Tesla no longer accepting Bitcoin.

[mnole03]

Due to the environmental effects.

BTC down 9% on the news.

Elon Musk says Tesla will stop accepting bitcoin for car purchases, citing environmental concerns

Tesla has "suspended vehicle purchases using bitcoin," Elon Musk said, citing environmental concerns.

www.cnbc.com

 

[BioHawk]

I just don't see how something that hinges on whether or not other people will accept it can stay viable long term. On the other hand, as long as there is a way to convert it to cash and back it will continue being a money laundering machine so that alone should keep the value high.

 

[desihawk]

Due to the environmental effects.

BTC down 9% on the news.

Elon Musk says Tesla will stop accepting bitcoin for car purchases, citing environmental concerns

Tesla has "suspended vehicle purchases using bitcoin," Elon Musk said, citing environmental concerns.

www.cnbc.com

he’s a clever bastard that one. shaking off bandwagon crpyto fans to allow real salt of earth types to buy.

 

[seminole97]

I just don't see how something that hinges on whether or not other people will accept it can stay viable long term. On the other hand, as long as there is a way to convert it to cash and back it will continue being a money laundering machine so that alone should keep the value high.

You're confused that a medium of exchange that can be electronically transferred globally and can't be counterfeited has value long term?
Why?
What is missing?

 

[bladel]

I just don't see how something that hinges on whether or not other people will accept it can stay viable long term. On the other hand, as long as there is a way to convert it to cash and back it will continue being a money laundering machine so that alone should keep the value high.

Bingo. Money laundering, tax evasion, ransomware, black market sales.

And don't forget that China, Cuba, N. Korea, Iran, etc. would love nothing more than for the world to adopt crypto as an alternative to USD as reserve currency.

Musk was a huge hypocrite to push EVs and residential solar*, and then champion Bitcoin. Even if it was just a short term pump-n-dump to make his Q1 numbers look better.

(*I have both, and they're friggin awesome.)

 

[BioHawk]

You're confused that a medium of exchange that can be electronically transferred globally and can't be counterfeited has value long term?
Why?
What is missing?

If countries and businesses just decide to say, "We won't accept that anymore", you're screwed.

 

[seminole97]

If countries and businesses just decide to say, "We won't accept that anymore", you're screwed.

Why could people not continue to use it as a medium of exchange and store of value between themselves, as they essentially have absent the willingness of almost every business or country to accept bitcoin as a form of payment?

 

[Moral]

I was convinced it was going to say he will only accept Dogecoin now.

 

[bladel]

"bUt iT's A sErIoUs InVeStMeNt!!"

 

[mnole03]

You're confused that a medium of exchange that can be electronically transferred globally and can't be counterfeited has value long term?
Why?
What is missing?

Acceptability/medium of exchange is one of the features of money. It’s a concern. If I have to trade my Bitcoin for dollars every time I want to buy something, it has less value than money that is directly accepted.

 

[GlenHawk]

"bUt iT's A sErIoUs InVeStMeNt!!"

View embedded media

Lol it's like a 1.5% drop. How are your stocks doing this week?

 

[mnole03]

Lol it's like a 1.5% drop. How are your stocks doing this week?

It’s down 10% tonight.

 

[seminole97]

Acceptability/medium of exchange is one of the features of money. It’s a concern. If I have to trade my Bitcoin for dollars every time I want to buy something, it has less value than money that is directly accepted.

Agreed, acceptance has value.
Part of what is remarkable to me is the valuation achieved by bitcoin to this point is absent the near universal acceptance enjoyed by other media.

 

[GlenHawk]

It’s down 10% tonight.

Sorry, I was just looking at the tweet posted. Still, everything is getting pounded this week.

 

[seminole97]

It’s down 10% tonight.

I still chalk the volatility to the 'shallowness' of the market.
I was surprised to see the poll that 10% of people spent some stimulus on crypto. I wouldn't have guessed acceptance was that high yet.

 

[mnole03]

Agreed, acceptance has value.
Part of what is remarkable to me is the valuation achieved by bitcoin to this point is absent the near universal acceptance enjoyed by other media.

Yeah, but I get the other aspects of it.

It’s transferability is incredible. You don’t need a bank to instantly transfer money across the world. Terrible for crime, but wonderful for international workers and their families. Western Union was taking 10%+ of their wages depending where they were sending the money.

 

[seminole97]

Yeah, but I get the other aspects of it.

It’s transferability is incredible. You don’t need a bank to instantly transfer money across the world. Terrible for crime, but wonderful for international workers and their families. Western Union was taking 10%+ of their wages depending where they were sending the money.

The thing that stood out to me when first reading about it was that you have billions of people with access to a smart phone, but not a bank.

 

[ICParrent]

So, the electricity to power the computers that mine bitcoin is very bad. The electricity to recharge a Tesla is very good.

 

[BioHawk]

So, the electricity to power the computers that mine bitcoin is very bad. The electricity to recharge a Tesla is very good.

Evidently you need to read up on how much electricity Cryptocurrency mining uses.

 

[Funky Bunch]

I was convinced it was going to say he will only accept Dogecoin now.

Actually I saw some speculation that NANO sounds like what he is describing. It's up 40%

 

[ChrisVarick]

Musk is a charlatan. Whenever Tesla gets bad news he changes the conversation. Chinese buying down big and stopping a plant build in China.... tweet if they should accept dogecoin.

Tesla semi? Where? Tesla solar panels? Close the plant, not making money. Boring company? Make renderings of a fantastic project in Las Vegas only to come with a tunnel and slow driving Model 3s. Take the cybertruck deposits and delay delay. Self driving will be here any moment (2018), self driving will be here soon (2019), self driving will be here by the end of the year (2020). Stock slumps at start of the year and announce you've been buying bitcoin. Pump bitcoin by saying that Tesla will accept them. Sell 10% of bitcoin a few months later. Tweet pump and dumps of Dogecoin.

 

[UNIowaHawk]

Will it be accepting Doge?

 

[ChrisVarick]

Will it be accepting Doge?

Do think a publicly traded company would accept a fictitious coin that can be infinitely created? I know that is a lot like USD, but USD is considered a real currency.

 

[Bonerfarts]

Seems odd that he just now found out about the environmental impact.

 

[UNIowaHawk]

Do think a publicly traded company would accept a fictitious coin that can be infinitely created? I know that is a lot like USD, but USD is considered a real currency.

 

[BioHawk]

Musk is a charlatan. Whenever Tesla gets bad news he changes the conversation. Chinese buying down big and stopping a plant build in China.... tweet if they should accept dogecoin.

Tesla semi? Where? Tesla solar panels? Close the plant, not making money. Boring company? Make renderings of a fantastic project in Las Vegas only to come with a tunnel and slow driving Model 3s. Take the cybertruck deposits and delay delay. Self driving will be here any moment (2018), self driving will be here soon (2019), self driving will be here by the end of the year (2020). Stock slumps at start of the year and announce you've been buying bitcoin. Pump bitcoin by saying that Tesla will accept them. Sell 10% of bitcoin a few months later. Tweet pump and dumps of Dogecoin.

He has produced results so I don't know if charlatan is an accurate description of him. He does seem to honestly want to do the things he says he's going to do. He certainly has his issues, but being a grifter really isn't one of them. He does fail sometimes though.

 

[lucas80]

He has produced results so I don't know if charlatan is an accurate description of him. He does seem to honestly want to do the things he says he's going to do. He certainly has his issues, but being a grifter really isn't one of them. He does fail sometimes though.

I like your comments and those of CV. Musk is successful, but, he has some shady stuff in how he operates, and in what he says. He sucked on SNL, too

 

[mnole03]

Seems odd that he just now found out about the environmental impact.

Gotta close out that position after he reported it to the SEC.

 

[Bonerfarts]

I might take a flyer on Cardano. I own a very small amount but I could move some funds for a lotto ticket. It’s interesting, similar to Ethereum, and Cardano was created by the co creator of Ethereum.

Cardano (blockchain platform) - Wikipedia

en.m.wikipedia.org

Currency	Kilowatt hour (KWh) consumed per transaction
XRP	0.0079
Dogecoin	0.12
Cardano	0.5479
Litecoin	18.522
Bitcoin Cash	18.957
Ethereum	62.56
Bitcoin	707

 

[Phenomenally Frantastic]

Musk is a charlatan. Whenever Tesla gets bad news he changes the conversation. Chinese buying down big and stopping a plant build in China...

you were saying?

Tesla Shanghai plant expansion is in full swing - Global Times

www.globaltimes.cn

“Tesla Shanghai plant expansion is in full swing”

 

[Phenomenally Frantastic]

Musk is a charlatan.

Tesla semi? Where?

There is 2:


Pepsi still wants them:

PepsiCo plans to take delivery of 15 Tesla Semis soon, could it happen this year?

Will the long-awaited Tesla Semi be going into service soon? PepsiCo has announced that it expects to take delivery of 15 Semis by the end of this year. The soda and snack seller placed an order for 100 units shortly after the electric truck’s 2017 launch. Since then, Tesla moved the Semi...

evannex.com

Tesla is likely awaiting their new 4680 battery design to be mass produced before delivering Semis. Tesla and their suppliers have battery supply side constraints. The company is manufacturing and delivering the most cost efficient and profit efficient products available with the limited batteries they are receiving.

They basically have to manufacture cars, battery packs, or semis. Semis on the 2170 design is not as efficient nor quick to charge as the 4680’s will be. So they are waiting until 4680 supply ramps.

Dude just landed the same reusable rocket for the 10th straight time when NASA said it couldnt be done. Some charlatan.

 

[Phenomenally Frantastic]

Musk is a charlatan. Self driving will be here any moment (2018), self driving will be here soon (2019), self driving will be here by the end of the year (2020).

Over/under 30 days this post will not age well. They have revamped the self driving tech to vision only, dropping radar and lidar. This is incredibly difficult. There are also regulatory hurdles across the country and the world. Even if they have the tech ready, they can’t just let driverless cars drive around on the roads. It would freak people out. FSD v8.3 ‘City Streets’ will be indistinguishable from full L5 autonomy in most driving scenarios. Using vision/cameras only. This will be a watershed moment in human history kind of shit. Like rise of the internet or release of the iphone. Before and after. You will remember the first time a Tesla drives you to work. Or takes your kid to school and then drives home and parks itself in your garage. It’s coming.

 

[Phenomenally Frantastic]

Musk is a charlatan. Tesla solar panels? Close the plant, not making money.

Wait what?

Tesla gets an extension to meet its job target in Buffalo

The extension will give Tesla more time to meet its promise to bring 1,460 workers to its sprawling factory in South Buffalo before it faces a penalty of more than

buffalonews.com

 

[Phenomenally Frantastic]

Musk is a charlatan. Stock slumps at start of the year and announce you've been buying bitcoin. Pump bitcoin by saying that Tesla will accept them. Sell 10% of bitcoin a few months later.

They purchased Bitcoin in early to mid December. They were coming off 3 straight quarters of beating EPS expectations. They announced bitcoin in mid January, at the peak of the stock price. They also had to disclose the purchase in the 10Q filings. It was never a secret.

If it was a pump and dump why would they continue to hold 90% of something they were “dumping?”

We get it, you hate Musk / love your ICE vehicles. Stop reading TSLAQ and repeating it though. Spreading misinformation and disinformation by God damned shit for brain short sellers, scum of the earth.

 

[Phenomenally Frantastic]

Check this out

 

[seminole97]

Check this out

View embedded media

Spotting the cone was cool.
My drive to work now is dead simple. I'm sure the existing self driving tech could manage it.
The challenges to me are what they do to traffic around the stadium on game day and situations like that (lane shifting construction, etc). I don't expect to buy a car without a steering wheel for some time, but I'd be willing buy a new car for real self driving. Hoping the current ride goes that long.

 

[Bonerfarts]

I wonder how well it works in an Iowan Blizzard

 

[Bank of Hawk]

How will Automated Driving systems work when they get ransomware’d?

 

[Phenomenally Frantastic]

Spotting the cone was cool.
My drive to work now is dead simple. I'm sure the existing self driving tech could manage it.
The challenges to me are what they do to traffic around the stadium on game day and situations like that (lane shifting construction, etc). I don't expect to buy a car without a steering wheel for some time, but I'd be willing buy a new car for real self driving. Hoping the current ride goes that long.

Like this?



Or like this in the rain?

 

[FAUlty Gator]

So...he’s the new George Soros, right? It’s obvious I’m an idiot. But this is like...monetary manipulation. If he gets anyone like the gaming world to follow him his this is like a game changer, correct? And this is also an obvious effort to help Dogecoin. Right? Sorry. I skipped the thread because I like smart people to talk to me directly.